Jet Lessor Launches $1.8 Billion IPO

Avolon Prices 13.6 Million Shares at $21-$23 Each

Avolon Holdings Ltd. on Monday launched an initial public offering of stock that values the Irish aircraft-leasing company at $1.8 billion, in a test of investor appetite for stocks with exposure to declining oil prices.

The private-equity-controlled company priced its offer of 13.6 million shares at $21 to $23 a share ahead of a planned New York Stock Exchange listing under the ticker AVOL, according to a regulatory filing. An...